Romanian state-owned passenger railway company CFR Calatori will try to increase its revenues by 6 percent this year by selling all its available advertising space, according to the agreement made by the Romanian Government with the International Monetary Fund (IMF), quoted by Mediafax newswire. The company will also try to reduce its arrears by some EUR 69.7 million by the end of June this year. The state-owned company will also hire a consultant which will establish the minimum services package the population needs to get and the price of that package.

Last year, the Government was planning to close down some routes included in the minimum social package, as keeping many of the trains had a social impact, while revenues on those routes were low.

A gradual reduction of the subsidies for train ride tariffs is in plan. CFR Calatori, which should have private management as part of the IMF deal, increased ticket prices by 18 percent last year.

editor@romania-insider.com